Nigeria says it has signed provisional deals worth $80bn with Chinese companies to upgrade its oil and gas infrastructure, in a sign of Beijing’s willingness to bolster Africa’s largest economy during its worst crisis in decades.
The memorandums of understanding cover all aspects of Nigeria’s energy sector, from rehabilitating decaying refineries and building new pipelines to developing the neglected gas and power sectors, the country’s state oil company NNPC said.
The agreements were reached during a visit this week to Beijing by Emmanuel Ibe Kachikwu, Nigeria’s oil minister. NNPC said 38 Chinese companies were involved in the agreements, including Sinopec, an oil group, and Norinco, a weapons maker.
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